Here is this month’s How’s the Market??? Snapshot. If you saw last month’s Snapshot you will notice that our local real estate trends show median prices are still creeping up, its just taking a little longer for homes to sell! If you would like more detailed information about how much your home is now worth after the Real Estate Crash, send me an email, text, or call me. I’ll be more than happy to provide you with a Free, no obligation report of what its worth and things you can do to improve the value of your home.

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot

January 28, 2016

Average List Price

30 Days Trend

Median List Price

30 Days Trend

Average DOM: active

30 Days Trend

Number of Listings

Los Angeles County, CA

Single Family under $1M

$548,365

0.97%

$525,000

0.98%

78

-9

6917

Single Family over $1M

$3,673,722

0.35%

$2,095,000

4.80%

105

-12

3811

Condo/Townhome under $600K

$382,973

2.99%

$375,000

2.74%

68

-15

1819

Condo/Townhome over $600K

$1,303,293

-1.33%

$899,000

-0.99%

77

-14

1025

Riverside County, CA

Single Family under $500K

$328,553

0.61%

$329,999

0.30%

88

-5

5989

Single Family over $500K

$1,509,915

4.94%

$885,000

4.12%

114

-7

4791

Condo/Townhome under $300K

$208,009

0.29%

$216,900

-0.96%

104

-7

1255

Condo/Townhome over $300K

$523,772

2.12%

$434,000

2.36%

93

-10

1252

San Bernardino County, CA

Single Family under $500K

$285,132

0.97%

$280,000

0.00%

106

-6

4489

Single Family over $500K

$1,670,016

9.88%

$898,000

6.27%

122

-12

2617

Condo/Townhome under $300K

$195,791

-2.94%

$215,000

-1.83%

90

-11

206

Condo/Townhome over $300K

$619,905

3.84%

$500,000

4.18%

60

-19

475

Orange County, CA

Single Family under $1M

$713,244

1.85%

$699,500

1.52%

77

-10

3533

Single Family over $1M

$3,770,515

0.38%

$2,350,000

0.21%

129

-9

1795

Condo/Townhome under $600K

$404,170

2.53%

$409,900

3.02%

67

-13

1091

Condo/Townhome over $600K

$1,064,625

-2.21%

$849,000

-0.12%

73

-14

591

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.

Existing-home sales in October were strong but not as strong as they were in September. Total existing-home sales fell 3.4 percent to 5.36 million, down from September’s 5.55 million. Yet sales were still 3.9 percent higher than at the same time last year. Economists with the National Association of Realtors expected the slowdown. Total housing inventory fell 2.3 percent in October, and according to NAR’s chief economist Lawrence Yun, the shortage put pressure on the housing market. The lack of inventory did nothing to ease the affordability issues plaguing some markets across the country. In addition, buyers had fewer options to choose from, leading to fewer contract signings. Yun also believes the recent volatility in financial markets impacted buyer demand—and home sales in turn.

The Silver Lining
If the job market continues to improve, sales should continue their year-over-year climb. With mortgage rates remaining below 4 percent for the third straight month, home buyers should feel incentivized to sign their contracts sooner rather than later. And even if mortgage rates moderately increase, a gradual easing of credit standards should temper any impact on demand and sales.

Lower and Higher
Every region saw sales slip or stall in October. In the Northeast, existing-home sales remained steady from September, while in the Midwest, sales were down 0.8 percent. The South and the West saw sales fall 3.2 percent and 8.7 percent from a month earlier, respectively. Sales might have been down from September, but every region posted year-over-year gains. Sales in the Northeast improved 8.6 percent from a year earlier. In the Midwest, existing-home sales were up 8.3 percent. And when compared with October 2014, sales in the South and the West rose 0.5 percent and 2.7 percent, respectively.

Home Price Tags
Prices also increased year-over-year. In the Northeast, the median price climbed 1.3 percent above October 2014. The Midwest and the South saw prices increase 5.7 percent and 6.2 percent above a year ago, respectively. The West posted the strongest gains, with the median price rising 8 percent above October 2014.

When you decide to sell your house, it is important to be well informed about the local market and current buyer expectations. Take the emotion out of the process. Be realistic about price and know what you need to do to get the best return on your home investment.

1-626-252-0839 Sell While the Market is HOTT!

If you’ve been thinking about selling your home, chances are that you’re excited about the possibility of moving and starting a new chapter of your life. Simply deciding to sell your home isn’t enough, though. The process of putting your home on the market can be overwhelming and time-consuming, so before you try to sell your property, you need to ask yourself a few questions. Being honest with yourself and with the people around you will help you have a more positive selling experience when you’re ready to move.

Here is this month’s How’s the Market??? Snapshot. If you saw last month’s Snapshot you will notice that our local real estate trends show median prices are still creeping up, its just taking a little longer for homes to sell! If you would like more detailed information about how much your home is now worth after the Real Estate Crash, send me an email, text, or call me. I’ll be more than happy to provide you with a Free, no obligation report of what its worth and things you can do to improve the value of your home.

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot

December 28, 2015

Average List Price

30 Days Trend

Median List Price

30 Days Trend

Average DOM: active

30 Days Trend

Number of Listings

Los Angeles County, CA

Single Family under $1M

$543,078

-1.54%

$519,900

-1.87%

87

12

6661

Single Family over $1M

$3,661,066

3.17%

$1,999,000

0.20%

117

17

3428

Condo/Townhome under $600K

$371,852

-2.21%

$365,000

-2.67%

84

12

1754

Condo/Townhome over $600K

$1,320,911

4.47%

$908,000

1.00%

91

15

957

Riverside County, CA

Single Family under $500K

$326,576

-0.26%

$329,000

-0.27%

93

9

5819

Single Family over $500K

$1,438,772

4.03%

$850,000

0.00%

121

17

4307

Condo/Townhome under $300K

$207,413

1.45%

$219,000

4.29%

111

6

1135

Condo/Townhome over $300K

$512,907

-1.44%

$424,000

-1.37%

103

17

1104

San Bernardino County, CA

Single Family under $500K

$282,395

-0.60%

$280,000

0.00%

112

8

4537

Single Family over $500K

$1,519,794

5.99%

$845,000

-0.47%

134

24

2399

Condo/Townhome under $300K

$201,717

1.17%

$219,000

1.86%

101

10

233

Condo/Townhome over $300K

$597,003

-0.99%

$479,950

-4.01%

79

22

375

Orange County, CA

Single Family under $1M

$700,285

-1.36%

$689,000

-1.43%

88

13

3249

Single Family over $1M

$3,756,405

6.13%

$2,345,000

5.16%

139

21

1634

Condo/Townhome under $600K

$394,185

-1.33%

$397,900

-0.50%

80

11

1033

Condo/Townhome over $600K

$1,088,670

3.93%

$850,000

1.80%

87

11

531

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.

Armed with a few important facts about your local real estate market, you will be prepared to make smart decisions about the sale of your house. The phrase All real estate is local accurately describes how to think about your individual circumstances. National trends in real estate do not necessarily reflect what is happening in your town, city, or region. Here are five local real estate factors you need to understand so your expectations for a home sale are realistic:

1. Know Your Market.
It is a seller’s market when there are a lot of buyers and limited housing inventory. One indicator of a seller’s market is how long properties stay on the market, which is referred to as Days on Market. In a seller’s market, houses sell more quickly—often with aggressive pricing. Some markets have multiple offers on in-demand houses. In a buyer’s market there are many houses for sale and buyers have a lot of choices. Each house is competing for a more limited number of buyers. Sellers have to be willing to negotiate either on price or home improvements. Know which market you are in.

2. Price It Right.
Pricing dynamics for your house depend on a number of local factors. Know how active your price range is in today’s market. All markets have busy price ranges, so know if your house fits into a busy range. Houses in these price ranges have the largest pool of buyers. However, your house competes with other houses of a similar price. Lower and higher price ranges have different dynamics. Whatever the price range, make sure your house meets the expectations of buyers. Go to open houses for similarly priced houses and see what these houses look like inside and out. Does yours stack up?

3. Consider Your Time Frame.
The shorter your time frame, the more flexible you may need to be on price and terms. If you are not constrained by a schedule, you can be patient for the right buyer and the right price. The first two weeks on the market will tell you whether you have the house priced correctly. Most active buyers will scour for new listings that meet their needs and attend the first open houses or make an appointment through their broker. If initial open houses do not draw a reasonable number of people, and there are few appointments to see the house, you need to evaluate the price. Act quickly. Lowering the price will generate new interest, new buyers, or previous buyers who passed on the house the first time.

4. Condition Matters.
You may have the right number of bedrooms and baths, but if it is apparent that work needs to be done—either upgrading inside or improving the outside— buyers will look for better quality. In many markets, buyers are looking for a turn-key house that is move-in ready. Consider what improvements you need to make or make sure the price reflects what work needs to be done. Most people will overlook minor repairs if the kitchens and baths are updated to today’s standards. Know what buyer expectations are in your market and reflect these expectations in condition and price.

5. Showing Your House.
There are a few basics that sellers need to embrace. Once a house goes on the market, it is a house for sale and no longer your home. Eliminate extra furniture and décor. Make each room as spacious and bright as possible. People walking through your house are deciding how their furniture and lifestyle would fit. The less they comment about your décor, the more time they are thinking about living there. It’s a good idea to leave when there are people touring your house. When owners are present, buyers spend less time in the house and will not have a productive discussion about likes and dislikes.

When you decide to sell your house, it is important to be well informed about the local market and current buyer expectations. Take the emotion out of the process. Be realistic about price and know what you need to do to get the best return on your home investment.

1-626-252-0839 Sell While the Market is HOTT!

If you’ve been thinking about selling your home, chances are that you’re excited about the possibility of moving and starting a new chapter of your life. Simply deciding to sell your home isn’t enough, though. The process of putting your home on the market can be overwhelming and time-consuming, so before you try to sell your property, you need to ask yourself a few questions. Being honest with yourself and with the people around you will help you have a more positive selling experience when you’re ready to move.

Now is a good time to buy a home or list your home for sale. The national housing market trends show an increase in home sales and a decrease in home inventory. National existing-home sales increased in September to the second-highest pace since February 2007. Interest rates are holding steady near 4 percent, and job growth—while modest in comparison with the first half of the year—is still strong. Rent prices have climbed to an eight-year high, making it less affordable to rent and more affordable to own a home.

National Home Sales Increase
Total existing-home sales reached 5.5 million in September, a 4.7 percent increase from August and an 8.8 percent rise above a year ago. What’s more, for the past 12 months, year over year existing-home sales have increased, according to NAR. Gains were recorded in every region of the country. In the Midwest, existing-home sales climbed 2.3 percent in September; sales are 12 percent higher than September 2014. Sales in the South rose 3.8 percent month over month and 5.7 percent year over year. The largest sales gains in September were seen in the Northeast, with an increase of 8.6 percent, and the West, with an increase of 6.7 percent. Year over year, sales rose in the Northeast and West 11.8 percent and 9.5 percent, respectively.

National Inventory Dips
By the end of September, there was a total of 2.21 million existing homes on the market, a decrease of 2.6 percent. This is 3.1 percent lower than a year ago. At the current sales pace, this level of inventory represents a 4.8-month supply—a drop from August’s 5.1-month supply. Persistent inventory shortages have plagued the housing market all year, yet the market has still posted gains. This is thanks in large part to sellers taking advantage of rising home prices to release equity in their current home and either sell up or downsize. First-time buyers, however, are still struggling to find a way into the housing market. First-time buyers represented only 29 percent of the market in September; this is down from August’s yearly high of 32 percent and unchanged from September 2014’s.

1-626-252-0839 Sell While the Market is HOTT!

If you’ve been thinking about selling your home, chances are that you’re excited about the possibility of moving and starting a new chapter of your life. Simply deciding to sell your home isn’t enough, though. The process of putting your home on the market can be overwhelming and time-consuming, so before you try to sell your property, you need to ask yourself a few questions. Being honest with yourself and with the people around you will help you have a more positive selling experience when you’re ready to move.

Here is this month’s How’s the Market??? Snapshot. If you saw last month’s Snapshot you will notice that our local real estate trends show median prices are still creeping up, its just taking a little longer for homes to sell! If you would like more detailed information about how much your home is now worth after the Real Estate Crash, send me an email, text, or call me. I’ll be more than happy to provide you with a Free, no obligation report of what its worth and things you can do to improve the value of your home.

Housing Inventory Snapshot

October 28, 2015

Average List Price

30 Days Trend

Median List Price

30 Days Trend

Average DOM: active

30 Days Trend

Number of Listings

Los Angeles County, CA

Single Family under $1M

$547,138

0.44%

$525,000

0.02%

72

3

7663

Single Family over $1M

$3,566,985

2.71%

$1,995,000

1.01%

93

4

3695

Condo/Townhome under $600K

$377,970

-0.13%

$374,900

-0.03%

69

4

2121

Condo/Townhome over $600K

$1,317,750

-2.24%

$899,000

0.00%

73

0

1094

Riverside County, CA

Single Family under $500K

$326,551

0.35%

$329,000

1.23%

79

0

6236

Single Family over $500K

$1,129,965

5.50%

$749,900

2.87%

118

-6

3150

Condo/Townhome under $300K

$200,242

1.84%

$207,500

3.75%

115

-7

1009

Condo/Townhome over $300K

$461,701

-1.28%

$399,000

-0.13%

107

-15

753

San Bernardino County, CA

Single Family under $500K

$281,483

-0.21%

$279,000

0.00%

99

0

5010

Single Family over $500K

$1,004,534

0.57%

$689,000

-0.13%

136

4

1510

Condo/Townhome under $300K

$197,390

0.70%

$214,900

1.37%

94

7

266

Condo/Townhome over $300K

$447,206

-2.43%

$380,000

1.63%

74

0

189

Orange County, CA

Single Family under $1M

$715,782

-0.65%

$699,990

-0.00%

77

5

3485

Single Family over $1M

$3,637,516

0.03%

$2,275,000

1.11%

118

3

1468

Condo/Townhome under $600K

$387,777

-0.80%

$395,000

-1.00%

72

4

1245

Condo/Townhome over $600K

$1,042,494

1.70%

$823,888

4.42%

74

0

528

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.

Here is this month’s How’s the Market??? Snapshot. If you saw last month’s Snapshot you will notice that our local real estate trends show median home prices are still creeping up, its just taking a little longer for homes to sell! If you would like more detailed information about how much your home is now worth after the Real Estate Crash, send me an email, text, or call me. I’ll be more than happy to provide you with a Free, no obligation report of what your home is worth and things you can do to improve the value of your home.

Housing Inventory Snapshot

August 31, 2015

Average List Price

30 Days Trend

Median List Price

30 Days Trend

Average DOM: active

30 Days Trend

Number of Listings

Los Angeles County, CA

Single Family under $1M

$547,420

0.06%

$525,000

0.00%

67

1

7880

Single Family over $1M

$3,349,108

0.62%

$1,975,000

-0.65%

88

2

3760

Condo/Townhome under $600K

$375,951

0.08%

$370,000

0.00%

64

1

2283

Condo/Townhome over $600K

$1,349,287

2.48%

$899,000

2.16%

73

1

1066

Riverside County, CA

Single Family under $500K

$325,279

0.03%

$325,000

-0.28%

76

-2

6038

Single Family over $500K

$1,067,128

-1.64%

$724,900

-0.56%

122

-1

2916

Condo/Townhome under $300K

$197,169

-1.98%

$202,000

-3.81%

120

0

954

Condo/Townhome over $300K

$465,924

0.18%

$399,900

0.23%

119

1

658

San Bernardino County, CA

Single Family under $500K

$283,466

0.08%

$279,800

1.75%

97

3

5101

Single Family over $500K

$998,016

-0.08%

$685,000

-1.44%

124

5

1648

Condo/Townhome under $300K

$199,191

-2.48%

$219,000

-2.67%

85

-10

274

Condo/Townhome over $300K

$462,180

-1.81%

$379,000

-2.82%

68

0

218

Orange County, CA

Single Family under $1M

$724,193

-0.73%

$700,000

-2.78%

67

2

3825

Single Family over $1M

$3,662,249

2.43%

$2,200,000

0.23%

110

7

1618

Condo/Townhome under $600K

$392,868

-0.72%

$399,000

-0.23%

64

3

1397

Condo/Townhome over $600K

$1,036,107

0.70%

$799,000

0.50%

70

1

599

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.